The former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Engr. Funsho Kupolokun, yesterday advised the Federal Government to muster the courage and completely deregulate the downstream oil sector to end the era of subsidy. The Federal Government, through the NNPC, currently sells petrol at N145 per litre while its landing cost is N171 per litre. The difference, N26, is the subsidy being paid borne by the Federal Government. Speaking as chairman at the 11th Nigeria Association Energy Economics… Read more

Nigeria National Petroleum Corporation (NNPC) ex-Group Managing Director Andrew Yakubu has said he will prove his innocence over allegation of false declaration of assets, even though the Economic and Financial Crimes Commission (EFCC) has not charged him with any offence. Yakubu accused the EFCC of denying him access to medical attention, which he said he desperately needed. The former NNPC boss is being detained by the EFCC, following an alleged recovery of $9,772,800 and £74,000 cash from him, which he… Read more